NORTH AMERICA COMPOUND MANAGEMENT MARKET FORECAST 2020-2028

NORTH AMERICA COMPOUND MANAGEMENT MARKET FORECAST 2020-2028

The market for near-infrared imaging in the North American region is expected to showcase growth at a CAGR of 14.14% during the projected period. The large presence of operating rooms and research laboratories in the region is the dominant factor pushing the growth of the near-infrared imaging market in the region. The market for near-infrared imaging in North America is segregated into the regions of Canada and the United States. The increasing number of cancer surgeries as a result of its early detection, are aiding the growth of the market in the region. There have been technological advancements, along with the increasing adoption of near-infrared imaging systems by medical professionals in the North American region. The US region is witness to a rising number of cancer cases that include, liver cancer, lung cancer, breast cancer, and several chronic diseases.

The North America compound management market is estimated to register a CAGR of 13.79% during the projected period, 2020-2028. The increasing R&D activities and efforts by the pharmaceutical companies is the prominent factor driving the market growth.

The North America compound management market is analyzed through the countries of the United States of America and Canada. In the United States, the market growth is driven by the research and development activities undertaken by pharmaceutical companies. Several pharmaceutical companies are prioritizing on developing new leads and storing the huge amount of samples to third party companies as a result of their expertise in compound management. The collaboration of biotechnology and pharmaceutical companies and their attempts to lower the drug development expenditure, are estimated to drive the market growth further. The large presence of well-established pharmaceutical companies in the country and their capacity to invest in the R&D activities will be beneficial for the growth prospects of the market.

Moreover, the growing demand for services and medicines in the areas of orphan and rare diseases is estimated to encourage drug manufacturers to consult specialist therapeutics through contract research organizations. The consultation with the CROs will further aid then in designing smarter medicines and recruiting patients for clinical trials. The demands for compound management are set to increase with the rising investments in healthcare sectors by the government.

Brooks Life Sciences is one of the well-established companies and a global leader in automated sample management for drug discovery and storage applications. The company sells and markets its products in Europe, the Middle East, Asia, and North America. The product and service portfolio includes SampleStore II Sample Management System and Strata Sample Management Software. The company acquired the GENEWIZ Group in November 2018.

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